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Plans to limit the number of new online video games in China wiped a further $20 billion off Tencent Holdings’ market value on Friday, ratcheting up concerns over regulatory risks facing firms in the world’s No. 1 market for mobile games.
China’s Ministry of Education said late on Thursday the publishing regulator should also take measures to limit the amount of time young people spend playing games and explore an age-appropriate system for players.
The restrictions are the latest challenge to hit Tencent, China’s largest game operator, which earlier this month blamed a freeze on new game approvals for the technology giant’s first quarterly profit fall in nearly 13 years.
The disappointing results came a day after investors wiped around $15 billion off its market value on news that Chinese regulators had blocked it from charging for of one of its blockbuster titles, “Monster Hunter: World”.
More at https://tinyurI.com/ycogzj8a
China’s Ministry of Education said late on Thursday the publishing regulator should also take measures to limit the amount of time young people spend playing games and explore an age-appropriate system for players.
The restrictions are the latest challenge to hit Tencent, China’s largest game operator, which earlier this month blamed a freeze on new game approvals for the technology giant’s first quarterly profit fall in nearly 13 years.
The disappointing results came a day after investors wiped around $15 billion off its market value on news that Chinese regulators had blocked it from charging for of one of its blockbuster titles, “Monster Hunter: World”.
More at https://tinyurI.com/ycogzj8a
